Feb 12, 2013
blog

The History of the Great Commodity Super Cycles

I was surprised by the record attendance recently at my annual “Agriculture and Beyond” speaking events sponsored by the Nebraska Bankers Association. These events in Norfolk and Lexington, Neb., had overflow crowds and some bankers, producers and agribusiness people had to stand out the hallways. Welcome to the great commodity super cycle that has brought wealth and prosperity to much of rural America!...More
Feb 12, 2013
blog

Corn Supply Increased Slightly in Feb. 8 WASDE

On Feb. 8, USDA released the latest World Agriculture Supply and Demand Estimates (WASDE) Report, which showed slight increase in the expected U.S. corn ending stocks for 2012-2013, compared to the January estimates. The projected 2012-2013 corn ending stocks are now estimated at 632 million bushels, as compared to 602 million bushels in the January report. By comparison, corn ending stocks at the end of 2011-2012 marketing year were 932 million bushels, and were just over 1.1 billion bushels at the end of the 2010-2011 crop year....More
Feb 12, 2013
blog

2013 to Bring Record Income Again

In its long-term projections released this morning, USDA’s Economic Research Service forecast farm income at a record $127.6 billion, up 15% as crop insurance payments add to income record commodity payments. They then see a drop to $96.9 billion in 2014 as corn, wheat and soybean prices fall dramatically and high production costs, up 12% in two years, eat into income....More
Feb 11, 2013
blog

Inside Look at South American Crop Production 15

South America is going to throw up huge numbers, there is no argument or debate, but they also might use a little more. Regardless of the weather from here on out, they are almost certain to produce an additional 30 million metric tons (maybe even more) of soybeans compared to last year. We may also see new record corn production as well. CONAB is thinking 5 mmt more corn than the current USDA estimate and 3 mmt more than last years record corn crop. This may be a little optimistic....More

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